NewsFlashArtenius declares PET force majeure on lack of PTA

16 February 2011 10:37[Source: ICIS news]

VALENCIA, Spain (ICIS)--Spain's Artenius has declared force majeure (FM) on polyethylene terephthalate (PET) and has limited allocation to 65-80% because of a lack of upstream purified terephthalic acid (PTA), a source said on Wednesday.

"As far as I can remember this is the first time in 20 years that a PET producer has declared FM,” the source said, speaking in Spanish. It added that the FM was unlikely to be lifted before the middle of March.